Guideline Value for Gangaiamman Koil 2nd Street

Gangaiamman Koil 2nd Street guideline value

The current guideline value of Gangaiamman Koil 2nd Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class IV Type - I.

How the guideline value of Gangaiamman Koil 2nd Street has changed

The guideline value for Gangaiamman Koil 2nd Street has seen several revisions over the years. In 2012, the value was Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and it has now risen to Rs 950 per sq.ft in the 2024 revision, marking a 6% increase from the previous year. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Gangaiamman Koil 2nd Street's 2024 figure below this median.

• Gangaiamman Koil 1st Street: Rs 950 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 950 per sq.ft (2024)
• Gayathri Nagar: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 1st Cross Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Gayathri Nagar 2nd Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Gangaiamman Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, totaling Rs 85,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Gangaiamman Koil 2nd Street?

The Sub Registrar Office that covers Gangaiamman Koil 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Chembakkam

The guideline value is a crucial factor when registering property transactions in Chembakkam. It serves as a benchmark for determining the value of the property being bought or sold, ensuring that the registration process is transparent and standardized.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This process helps in maintaining a fair valuation of properties in the region.

Frequently asked questions

What is the current guideline value of Gangaiamman Koil 2nd Street?

The current guideline value of Gangaiamman Koil 2nd Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and is now Rs 950 per sq.ft in 2024.

What is the land classification of Gangaiamman Koil 2nd Street?

Gangaiamman Koil 2nd Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 9,50,000, the stamp duty would be Rs 66,500 and the registration fee would be Rs 19,000, totaling Rs 85,500.

Where is the Sub Registrar Office located for this street?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.